The Global Home Insecticide Market is projected to grow at a CAGR of 5.27% in the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The market for home insecticides is growing mainly due to the growing number of vector-borne diseases like malaria, dengue, etc., among individuals. This has brought in a behavior shift in the consumers due to which they are now becoming much more concerned about their health. This is further leading to the higher adoption of insecticides such as mosquito repellants, tick roll-on, and others.
Along with it, in some of the tropical countries like Brazil, Kenya, India, Indonesian, etc. insects breed throughout the year, due to which there is a constant risk of the speed of the vector borne diseases. Due to which the demand for insecticides remain constant throughout the year.
Moreover, constant efforts of the government to launch certain programs to boost hygiene and pest control awareness among the residents further influencing insecticide adoption. These programs include the National Vector Borne Disease Program (India), the National Malaria Control Programme (the US), the Global Malaria Program, etc.
Further, increasing launch of innovation insecticide products and surging urbanization activities specifically across Asia-Pacific and Africa, have created widely opportunities for the revenue growth of the market, further states the research report, “Global Home Insecticide Market Analysis, 2023.”
Natural Home Insecticides Gaining Substantial Traction in the Global Market
Based on the chemical type the market is divided into Synthetic and Natural. Among them, Home Insecticides containing natural ingredients such as Citronella Oil, Geraniol, Neem Oil, and Eucalyptus Oil, are gaining immense popularity among the end users. Increasing health awareness related to the exposure of toxic chemicals such as N, N Diethyl-Meta-Toulamide, Hydroxyethyl Isobutyl Pieridine Carboxylate, etc., that are linked to respiratory disease is widely influencing this shift. Thus, insecticide manufacturers such as Godrej, and Earth Corporation, among others are constantly working to cater to the emerging trend across global markets. This is expected to positively influence the share of natural insecticides in the global markets over the coming years.
Asia Pacific to Lead the Market Growth
Based on the region, the market is divided into North America, South America, Europe, the Middle East & Africa, and Asia Pacific. Among all these regions Asia-Pacific is anticipated to dominate the Global Home Insecticides Market. The region lies in the tropical parts of the world, due to which, Asia-Pacific registers high temperatures and even rainfall for most part of the year. This is a favourable breeding ground for household insecticides like moths, termites, flies, and mosquitoes., owing to which enhanced protection is required to minimize the spread of inset based diseases.
Further, in the upcoming years as Asia Pacific is witnessing large-scale infrastructural development with rapid urbanization, the demand for home insecticides is anticipated to escalate considerably. According to the United Nations, in 2021 nearly 2.3 billion people in the Asia Pacific region resided in urban cities and this number is projected to reach 2.8 billion by the year 2030. Along with it, most cities in the in Indian, China Vietnam, etc., have improper solid waste management and struggle with sanitation issues as per UN-Habitat. These factors are further projected to propel the demand for household insecticides like creams, vaporizers, coils, etc., in Asia-Pacific region during 2023-2028.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including FMC, Godrej Consumer Goods, SC Johnson, Spectrum, Dabur India Ltd., Amplecta, BASF SE, Jyothy Labs, Liphatech, Kittrich, PelGar, Sumitomo Chemicals, Reckitt Benckiser Group Plc, PIC Corporation, Procter & Gamble, and others are looking forward to strengthening their market position.
Key Questions Answered in the Research Report